In 2023, inflation has begun to subside in Guatemala although retail price inflation continues to impact the basic food basket. Lower prices of some imported goods, regulatory interest rate policies and reduced agricultural production costs have collectively contributed to this decline in inflation.
Local brands have gained prominence in cooking ingredients and meals, with consumers seeking more affordable prices and products that are well-received in terms of quality and price. The sauces, dips and condiments category has a high penetration of local brands and features a wide range of players that are driving innovations in product formulations.
Alimentos Ideal SA holds the leadership position in cooking ingredients and meals, particularly in edible oils, with its prominent brands Ideal, Patrona and Bonella. Throughout 2023, Alimentos Ideal has bolstered oil sales by introducing promotional packs and sachets of oil, giving consumers a smaller sized pack.
The modern retail channel continues to expand in Guatemala with the addition of new stores. La Torre has inaugurated its 100th store, while the Grupo de Tiendas Asociadas (GTA), encompassing brands like Suma, Super del Barrio, Mi Super Fresh and Supermayoreo, aims to attract customers with private label ranges that emphasise quality and affordability.
The return to routines outside the home will drive the trend towards convenience and easier food preparation in Guatemala, which has traditionally been a key part of family life in the home. Categories like frozen meals are expected to continue growing with the expansion of brands that offer greater convenience when preparing tacos at home.
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Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Guatemala with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Cooking Ingredients and Meals industry in Guatemala, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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